Our company has a company charge card that gets used for all no account payments
This card is used through out the month then we have a DD for the total amount that comes out each month.
Now it not just materials that we put on the card we have stuff like Fuel and Stationary so on my old (Excel) system i would allocate the amounts to each nominal account
How do i go about allocating parts of this total to different nominal accounts. without creating a purchase for each item on the statement? ( i can’t get the statements electronically)
Any sort of charge card or credit card is treated like a bank account in QuickFile. There’s actually a category in the bank management area specifically for credit cards. Payments made on the card are logged as “money out” entries on the statement,you can then tag these expenses as purchase invoices or post directly to a nominal code using the tagging option “Something else not on the list”.
When the DD clears the card balance you would treat this as a bank transfer from your current account to the card account.
but unlike a normal credit card we don’t have a balance like a normal card it just resets to Zero each month
For augments sake say i have £1000 Gone through as a DD
£300 was fuel
£500 was material
£200 was postage
how do i split them over the nominal accounts ? as i am just trying to avoid having to go through the card statement an create a purchase for each item
